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Elastic Finance makes its case in the DeFi discussion

The DeFi frenzy has been making the headlines in the last few months, as crypto exchanges rush to list popular tokens within the decentralized finance sphere. However, another concept called “Elastic Finance” has emerged, which could be the next generation of financial platforms that can use unique supply elastic assets, said an expert.During an interview with Cointelegraph, digital asset protocol firm Ampleforth Foundation CEO Evan Kuo said that Elastic Finance began with its...

SushiSwap GM says “Talk doesn’t mean anything and code shows everything”

SushiSwap, a fork of the popular Uniswap exchange and one of the latest breakouts of the DeFi craze, has undergone its fair share of scrutiny in recent days — and fairly so. The platform's token, known as Sushi, quickly came to represent 77% of the action on Uniswap as of Sept. 1, garnering more than $1.5 billion in locked value less than a week from its inception. Many have voiced suspicions regarding certain aspects of...

Bitrue, OKEx to offer both DeFi and CeFi options

Two exchanges will offer both decentralized and centralized financial options.Both Bitrue and OKEx separately announced plans to provide hybrid services that cater both to the DeFi market and more mainstream centralized finance products.OKEx CEO Jay Hao tweeted on August 30 that the exchange launched its hybrid lending aggregator. The DeFi and CeFi aggregator integrates Compound (COMP). Hao said OKEx is “here to redefine crypto lending experience.”The OKEx DeFi Lending Marketplace gathers major DeFi...

Don’t just blame DeFi for paying high ETH gas fees

Transaction costs on the Ethereum blockchain are at record highs, and no one will let you forget it. Reports often detail how decentralized finance platforms are the cause of ever-rising gas fees — tokens paid to miners who confirm and enable transactions on the Ethereum blockchain. Yes, DeFi does play a role, but the problem is institutional. Some exchanges, custodians and asset managers have been using multisignature platforms to secure their digital assets. Several...

DeFi Is the Future Says CZ but Centralized Exchanges Remain More Popular

With Decentralized Finance (DeFi) gaining steam, exchanges like Binance find ways to co-exist with innovations like DeFi. Binance Co-Founder and CEO Changpeng Zhao (CZ) said DeFi is an innovative space and investing decentralized exchanges will not be a challenge for regular exchanges. In an interview at the Boxmining Youtube channel, CZ said DeFi makes the space more attractive. In particular, he pointed to automatic market makers (AMM) as a fascinating invention. “I think DeFi is...

Crypto Exchange UpBit Scores Full Deck of Licenses From Thai SEC

After a series of regulatory changes led the South Korean exchange UpBit to force out its foreign users from the platform, the company is setting up a new division in Thailand.According to an announcement shared with Cointelegraph, UpBit has received approval from Thailand’s Securities and Exchange Commission to operate its digital asset exchange in the country. The Thai SEC has approved the exchange for four provisional licenses that allow the company to operate under...

Do You Know The Most Valuable Blockchain Companies?

Research firm Hurun published a list of global unicorns, or companies worth more than a billion dollars, in 2020. This ranking features all billion-dollar tech startups founded in the 21st century that are not listed yet listed on public exchanges.The report, named “Hurun Global Unicorn Index 2020,” shows that there are a total of 586 unicorns globally — up from 494 companies listed in the 2019 ranking.The blockchain industry represents 2% of the...

Cleaning Up Crypto Exchange Wash Trading Will Take Global Regulation

When Bitwise Asset Management declared in a March 2019 presentation to the United States Securities and Exchange Commission that 95% of the Bitcoin (BTC) trading volume being reported globally on cryptocurrency exchanges was “fake,” it jolted rating firms, exchanges and the larger crypto world. Data analytics firms recalibrated their exchange ranking metrics, and some assumed it was just a matter of time before wash trading was curtailed if not eliminated.But wash trading was...

This Exchange Crashed Bitcoin Price to $9K: Here’s Why That’s Bullish

According to data from CoinMetrics, a sell-off on Bitstamp led the market-wide plunge of Bitcoin (BTC). The top cryptocurrency by market capitalization dropped $150 within seconds on the exchange, well below the average market price at the time.Researchers at CoinMetrics said:“Today's market drop was led by trade activity on Bitstamp, where Bitcoin's price dropped $150 in seconds, well below the rest of the market.”The price of Bitcoin drops lower on Bitstamp than other...

A Record Number of Bitcoin Were Recently Withdrawn From Exchanges

July 8 set a year-to-date record for the number of net Bitcoin (BTC) withdrawn from custodial exchanges. The onslaught was led by Coinbase.A bullish sign?Yesterday, 20,660 more Bitcoin were removed from exchanges than deposited according to data from Glassnode. This represents 2020’s biggest daily outflow of Bitcoin from exchanges — a behavior pattern that is typically considered bullish.All Exchanges versus Coinbase net Bitcoin flow. Source: GlassnodeCoinbase leads the exodusInterestingly, Coinbase alone experienced a net...
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